South Pars Phase 11 to Become Operational in Three Months: Oil Minister
TEHRAN (Tasnim) – Iran’s oil minister said $15 billion worth of oil and gas projects will be inaugurated in the country in the current Persian year (ends on March 20, 2024), noting that Phase 11 of the South Pars Gas Field is among them and will be put into operation within the next 2 to 3 months.
Speaking at the inaugural ceremony of the 27th Iran International Oil, Gas, Refining and Petrochemical Exhibition, dunned “Iran Oil Show 2023” on Wednesday, Javad Owji added that Iran has become self-sufficient in all sectors of the oil industry despite tough and cruel sanctions imposed by Western countries against the Islamic Republic.
Iran’s oil exports have doubled since the administration of President Ebrahim Raisi took office, the oil minister stated.
He went on to say that Iran owns the highest amount of oil and gas reserves in the world, adding that the trend of oil, gas and petrochemical production in the current administration has considerably increased.
Some $15 billion worth of oil and gas projects will be inaugurated in the country by the yearend, he stressed.
The Oil Ministry has taken measures to make sure that cruel sanctions cannot deprive Iran of maximum development of its oil and gas industry, he said, noting that there exists an opportunity for investing $160 billion in down- and upstream projects in the country’s oil industry.